Tax rises planned?

Philip Hammond is planning to raise up to £10bn in extra tax to help to boost the NHS on its 70th anniversary. The chancellor will set out in the autumn budget how additional health funding will be paid for, but allies said that he was planning a mix of extra borrowing and tax rises through the remainder of this parliament. The ratio is expected to be between a third and a half raised in additional taxation, they added. Meanwhile, the Resolution Foundation has said pensioners will need to be taxed more heavily and plans to slash corporate taxation must be shelved in order fill the £20bn NHS funding black hole. The Times (12/06/2018)